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. the economy is barely growing, so the federal reserve says it will keep buying bonds to stimulate growth, and create more jobs. >> tom: i'm tom hudson. facebook's latest earnings beat the street, but while the company saw big gains in mobile ad sales, it's costs also shot up. >> susie: and rim, rolls out the new blackberry 10, a new name, and a new ticker symbol, we look at what's riding on all those bold moves. >> tom: that and more tonight on "n.b.r."! >> susie: the federal reserve said the economy "paused" in recent months, so it's keeping its key interest rate near zero. the decision from policymakers today came on a day of mixed reports about the u.s. economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economiste eecxpd. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy tatement today that it continues to see "downside risks" to the economy. unemployme
the wrong way. the economy slinks bringing on fears of a new recession. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. hard slap in the face tonight from reality. economy thought to be improving shocked experts and shrank in the final months of last year. huge falloff from gain last summer. white house correspondent wendell goler with an explanation and reaction. >> less than two weeks after the president said in the second inaugural address that an economic recovery had begun, the commerce department said not so fast. the biggest drop in defense spending in 40 years combined with a decline in exports and slow growth in company stock piles slashed economic growth from 3.1% in the third quarter to minus 1/10th in the fourth. first negative quarter since 2009. white house downplayed the report and gave the republicans part of the blame. >> home prices are starting to climb back. consumer confidence overall has been rising and consumer spending is rising. but there is more work to do. our economy is facing a major head wind that goes to your point. republi
told me that when it came to the economy, and i quote, the good news will keep coming. after last week's growth figures it obviously hasn't. what is his excuse this time? >> as the right honorable gentleman nose gdp in the third quarter of last you went up by 4.9%. and is forecast by the office of -- it fell by 23%. only honorable members opposite each year that news. [cheers and applause] >> i think the right honorable gentleman should listen to the governor of the bank of england who said this. our economy is recovering more slowly than we might wish, but we are moving in the right direction. the fall in unemployment number clearly back that up. >> ed miliband. >> what an extraordinarily complacent answer from the prime minister. let us understand the scale of his failure on growth. they told us in autumn 2010 that by now the economy would have grown by over 5%. can the prime minister tell us by how much the economy has actually grown since then? >> there's absolutely nothing complacent about this government. that is why we are cutting corporation tax. we are investing in enterprise
economy, keep jobs at home, how can you be sure you do the right thing. to sort through it all is todd marks. todd, great to have you on the show. thank you so much for being with us. >> oh, my pleasure, gerri. gerri: how do you know? they label these things every which way. how do you know which products are made in america? >> well, they are very serious and very complex, arcane rules governing what it means to be made in america. there's claims called qualified, made in the usa, no ambiguity. there's qualified claims, made in the u.s. of parts made in china. they are created here. gerri: hey, todd, like apple, created in california, asemilled in china. >> that confusion prompts people to scratch their head. we get letters all the time. how can it be? the laws are clear, but they are not. well, they may state that, you know, when they create laws about what it mean to be made in america, it says, in order to say it's unqualified made in america, there can be no ambiguity, and you don't want to mislead a reasonable person. you can't plant that idea. the companies do it with symbols, s
the point. rick, is your point that this weak economic report we got today shows the economy is truly weak, or are you agreeing with the consensus that it shows that government spending was the reason for the weakness? >> no. i'm saying government spending isn't really addressing some of the main issues of weakness, and when did we -- when did we have an amendment saying we're banning recessions. if the economy is destined to be smaller to get healthy, let it happen. >> but hold on, rick. what was interesting about this report to my mind was that consumer spending and business spending actually held up in the face of government spending. >> that's a wonderful thing, and i like that thing. >> it reilly should be for investors the one of figuring out in a world that looks like it will be one of declining government spending, what will happen to private sector spending and investment? >> it will reallocate the capital better. >> hey, rick, you're not going to get the end result that you think you will. nothing makes sense. i agree 100%. guess what's going to happen? we're going to get a housi
of this administration. it's the norm because the economy collapsed. we all remember that the economy collapsed. and to withdraw federal spending from a collapsing economy is only to make things worse. the economic collapse created these deficits, and as the economy recovers, we can draw this will down. now, there's not aagreement on that. some have preached austerity as the way forward when the economy coul lapses. -- collapses of the and when this withstand, there was lively debate between those who support that would be more sensible than austerity. we're past us a started and now into experience much the experience of foreign countries belies that austerity works when economies are collapse ago. from spain to greece, european countries that responded to the economic downturn by slashing their budgets are suffering from shrinking economies and persistent double-digit unemployment rates. a recent i.m.f. report estimates that budget austerity in a weak economy might actually inflict significant harm and have a much lower-than-expected effect on the deficit, consistent with the observations in
have 11 million people in this country undocumented. that is not good for this country or the economy. that is not going to disappear. we have to face that reyagity. i say, i like senator vitter on many issues. i disagree on this issue. i think we start taxing these people. they are already benefiting from the social serve thes and encase system. so let's tax them. from a security point of view, this is helpful and i think that this is not an amnesty. you are letting people go of a crime. these people are going to have are to pay taxes and crimes. i cthink it is a brilliant program. the only thing stopping it is president obama if he does not agree to it. >> if this does not have border security in it. the republican party, to me, if you give the free flow of immigration for workers, there can still be border security, there could be -- right? anybody who wants to come for legitimate reason ares wants to come. >> right. >> larry, can i ask a question? >> what i want to say, all right i'll direct it tow. the gop should be the party of growth and opportunity and the party of entrepreneu
market. the first half is going to face some pretty big headwinds from the economy, so i'm cautious about the next few months here. >> cautious about the next few months, so does that translate into taking money out of stocks? is this rally that we've been seeing, even though we saw fractionial losses today, is it justified given these expectations that you think the economy turns downward? >> i think if you look just at the earnings picture and ignore what's going on in washington, the markets should be up even more. i mean, there's plenty of room for stocks to rally, and i do think once we get past this miss call austerity the rally will resume. we have to keep in mind that the market up until now has not seen really weak data, and it's about see some very soft consumption numbers. have you a $200 billion tax increase this year and a $110 billion sequester. these are not small fiscal tight things. it means that first and second quarter are going to be very weak. it's no longer going to be talking about the risks of the fiscal cliff. we're actually getting about half of the fiscal cliff,
economy is a high priority, so is proving his democratic credentials to his western partners. he said he would push forward with democratization. >> egypt will be a state that tolerates different and opposing opinions with peaceful transfers of power and a democratic state with everything that entails. >> merkel said she was concerned about the political violence in egypt and said dialogue was key. >> political forces can make a contribution. human rights have to be respected in egypt, and that applies most importantly to the protection of religious freedom. >> two more people died in cairo on wednesday in clashes between police and demonstrators. the death toll has now reached 50 in a week of protests. two years after a revolution swept morsi's predecessor from power. berlin has criticized his recent attempts to consolidate power is, and his opponents in the german capital were warning of a new dictatorship and egypt. >> our correspondent has been following the president's visit for us. does morsi get any of the investment and all of that that he has been looking for? >> i think you are
the afternoon. i'm shepard smith. >> neil: economy is suffering, is this time to be hiking. i'm eric bombing and the economy isn't just slowing it's shrinking. it dropped by tenth of percent. it's the first time that happened in three and a half years. all this as democrats are pushing for more tax hikes. former reagan advisor art laffer says that is the last thing we need. first thing in three and a half years we will an actual contraction in the economy and brought it to 2.1%. we spent $5.8 trillion and this is what we get for it. >> it's just dumb on the outside. government spending is milton friedman is taxation. government doesn't create resources, it redistributes resources and this government spending is why we had the recession. obama continued the bad job for four straight jobs and this is the result. >> eric: but they would say isn't for government spending we would have no growth? >> government spending it's not in spite of government spending it's because of the government spending. we think of it, you got two guys in the world, "a" and "b". if "b" gets unemployment benefits who
. the economy suddenly stops growing. anthony mason looks at the surprising new numbers and with the super bowl coming this weekend, jim axelrod in new orleans, where the city's chefs have served up an economic recovery. >> reporter: the population shrunk, and yet the number of the restaurants went up? >> yeah, it's a miracle, isn't it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the senate judiciary committee had assembled for the first congressional gun control hearing since the sandy hook tragedy when the surprise witness appeared. former congresswoman gabrielle giffords of arizona was led by the hand by her husband, mark kelly. it was two years ago this month that giffords was shot through the head during a meeting in tucson. 18 others were shot and six died. a day of testimony began with this: >> speaking is difficult, but i need to say something important. violence is a big problem. too many children are dying. too many children. we must do something. it will be hard, but the time is now. you must act. be bold. be courageous. amer
. often they do that in the shadow economy, a place where employers may offer them less than the minimum wage or make them work overtime without extra pay. when that happens, it's not as bad for them, it's bad for the entire economy, because all the businesses that are trying to do the right thing that are hiring people legally, paying a decent wage, following the rules, they are the ones to suffer. they have got to compete against companies that are breaking the rules. the wages and working conditions of american workers are threatened as well. if we are truly committed to strengthening our middle-class and providing more ladders of opportunity to those who are willing to work hard to make it into the middle class, we've got to fix the system. we have to make sure that every business and every worker in america is pulling by the same set of rules. we have to bring in the shadow economy into the light so that everybody is held accountable. the businesses and the immigrants getting on the right side of the law. common-sense. that's why we need comprehensive immigration reform. host: presi
'll get to the second topic. news today about the economy that was surprised a lot of economists. they weren't expecting for the economy to actually slink. contracted in -- actually shrank, contracted in the fourth quarter. >> eric: everybody says everything is great, obama recovery is great. see the line right there? it should be negative. it is below the line. economy shrank by one-tenth of 1% catching people by surpris surprise. >> dana: caught people from surprise? >> eric: everyone. everyone. everyone. everyone said wait a minute, we're moving. it wasn't 3.1% growth like the third quarter was. we thought it would be in the 1.5-2% growth, but growth none. first time in 3-1/2 years. we have spent $5.8 trillion, negative growth. >> greg: this is great, though. this is all part of president obama's immigration plan. shrink the economy, people leave. genius. >> dana: do you think it's weird that the white house blamed the republicans today faz they have nothing to do -- >> bob: i think, i think the serious blame goes to sandy more than anything else. i don't think i would - -- >>
. >>> first up, spanish economy contracted more than forecast with gdp down 1.8% annually, .7% from the previous quarter. analysts were looking for a smaller 1.7% drop over last year. speaking after the release, the spanish prime minister, mariano rajo, planned to announce new stimulus measures shortly. joining us are sarah perez fruitos, manager at brunswick capital, and sarah foley. add the gdp number to the awful retail sales, forecasts now that spain will still be in contraction in 2014, i don't see how it's at all possible the spanish government is going to meet -- they'll set out revised budget targets. i don't see how they'll meet any of them. >> really, the t's about the figures that we knew this morning. basically because last quarter we have an increase on the vat taxes and really we pass from the bat from 70% four years ago to 21% now in the last quarter. really as you say, the retail -- the consumer has fallen down dramatic. we need to remember that the public employees has cut their extra payment from the christmas extra payment. and this situation with no more extra fo
, we are growing, not fast enough. i mean the economy is doing all right. and, you know, the question is going to be now what does congress and president do together. melissa: simon, we're not growing. it is negative. that is the point of the segment. we're not growing. >> i understand. the thing is the economy is doing all right. it is not doing really bad. it is not doing really great. somewhere in the middling place it has been last couple years. that didn't substantially change. as you heard from the other guests. the key thing what is congress and the president going to do? how do we balance need for more growth with also deficit reduction in the next few months. that is where the big battle will be in washington i think. >> let me answer that question. melissa: go ahead. >> i think it is a good one. this is the big political battle, this is one of the reasons i think that the huge fiscal stimulus we had in 2009 was such a expensive mistake because what we did essentially we overloaded the economy with all of this deluge of government spending and essentially what we've done now
had a lot of smart people who work with us here in chattanooga, and, of course, as the economy went bad, that was a downer for everyone, and then the stimulus money came along. we, fortunately, had already completed a very comprehensive business plan that showed that the system would work, and it would pay for itself over time with the savings that can be achieved from the new technology. melissa: yeah, they were giving away good money after bad for, you know, whatever project was going, so you might as well grab it and spend it on good if they spend it no matter what. geek move, awards $11,250 for moving into the city, $10,000 for expenses, and 12,000 for moving. how many show an interest in the opportunity? >> we've had a hundred applications and we'll filter through them. it is a success based on a similar success a few years ago with artists, encouraging people to move here for a specific purpose, and we have neighborhoods where houses are going wadding. geeks, that's a good term in chattanooga, urban pioneers frequently, so with a little incentive, we can bring individuals to c
and fives, i think it's going to cause... have many negative effects on the economy. >> reporter: however, if mortgage rates only move up slightly, that's likely to bring more buyers into the market. that's because many people have been waiting on the sidelines for a signal the housing market has bottomed. suzanne pratt, "n.b.r.," new york. >> tom: as home prices have risen, so have the stock prices of many home builders, with the stock prices more vulnerable than the housing market. the yellow line, the year-over-year changes in home prices. the blue line, the home builders' stomach exchange traded fund. they move higher before home prices do, and move lower before the prices crack. megan mcgrath is with us tonight. you've looked at this relationship between the actual price of homes and the home building stocks. what does the rally in home building stocks tell you today about home prices in the month ahead. >> it is certainly telling us investors are expecting prices to continue to go up, and to go up quite a bit. prices as well as volume. there is a relationship there, too. we heard so
at the same time. >> how can they get ahead when they do not have the economy and the jobs and the opportunities. >> it is utterly wrong. >> i think this is her rent this. >> it is an honor for me to help out my mother. >> everyone just piles into one house because nobody can afford their own things. stuart: any last comments on the sandwich generation? >> it was like we were in the 40s and 50s. stuart: our time is up. dagen and connell, it is yours. dagen: thank you, stuart. i am dagen mcdowell. connell: i am connell mcshane. the economy when it negative. private-sector job growth offering some hope for the road ahead. connell: you only see this on the fox business network. elizabeth macdonald ringing exclusive video showing us how hospitals are putting money before patients. dagen: research in motion rolling out the blackberry ten. a band-aid for a gaping head wound. connell: i love name changes. dagen: let's go to nicole petallides at the stock exchange. good morning. nicole: let's talk about the markets. the dow is down about 14 points right now. we have had the dow not
in the technology industry where it was mentioned that between 2010 2010-2020, the american economy will annually create more than 120,000 additional computer or science jobs that were require at least a bachelors degree. that's just mention one aspect of this. this is great news for many of our computer science students. and for joy that is the end of the good news. each year only about 40,000 american students receive bachelor degrees in computer science. in other words, there are approximately 80,000 new computer science positions every year in the united states cannot be filled by available american workforce positions. and i have positions that need to be filled so that our technology industry can continue to thrive. simply put, u.s. based companies have a great need for those trained in the science, technology, engineering and math fields. but at least right now there are not enough americans trained and ready to fill these jobs. we cannot continue to simply hope that american companies do not move operations to countries where they have greater access for individuals trained in these s.t.e
. surprise contraction in gdp. the economy shrinking for the first time in three and a half years. lori: also, betting big on library. research in motion changing its name and unveiling the highly anticipated blackberry 10 device. coming up in minutes. the ceo thorsten heins. melissa: and it turns out japan's two largest airlines have had problems with the dreamliner battery long before the issue. time for stocks as we do every 15 minutes, let's head to the floor of the new york stock exchange. nicole petallides. those gdp numbers keeping the dow away from 14,000. nicole: they certainly did throughout the morning. it brings concern when there is no good gdp numbers. there has been less on defense and concerns, let's take a look now, much like we have seen recently where the dow goes over that one change line over and over again. today seems to be no different as we are back in positive territory. we haven't taken out our highs we saw yesterday, five year highs for the s&p 500, dow jones the thrills, russell 2000. we have had a lot of names and a lot of these indexes hitting these highs we hav
, they are reporting as well. also the very latest reading on gdp showing our economy, well, it's moving in the wrong direction or at least it was in the third quarter. a lot of people say it was an anomaly, a lot of other factors like hurricane figured into those numbers, but are we slipping into a recession? some people are beginning to think so. the fed just said growth paused in recent months. i will be asking a harvard professor if he was -- if he thinks we're in a recession. he was president reagan's chief economic advisor. liz: david we have qualcomm numbers. adam has them. we see right now that the stock is at least in the initial moments moving higher. adam? adam: it is moving higher up over 3%. here's why, it's a beat on both fronts liz. earnings per share came in at $1.26. the street was expecting $1.13. the revenue 6.02 billion, street was expecting 5.9 billion. so qualcomm continues to perform well, especially on revenue. liz? liz: let's keep in mind that qualcomm is in very high end smart phones but they are pushing as paul jacobs the ceo told me in davos last year -- last week, that th
here is to help undocumented immigrants who are already a part of the this country's economy and he made the argument that helping them would help all americans. >> obama: every day, like the rest of us, they go out and they go out and trytry to earn a living. they often do that in a shadow of economy where employers may offer them less than minimum wage or make them work overtime without extra pay. when in a happens, it's not just bad for them but the entire economy. because all the business who is are trying to do the right thing thing, hire people legally following the rules, they are the ones who suffer. >> jennifer: he's right, the shadow economy hurts everyone, particularly the workers who are operating in it. 67% of domestic workers are paid below the minimum wage. less than 2% receive retirement or pension. 65% of those workers don't have health insurance and there is absolutely no recurs. 85% of undocumented immigrants who encounter problems in their working conditions didn't complain because of their shaky immigration status. they have reason to be concerned, that it woul
their first meeting of 2013. investors watching carefully for any change in strategy to boost the economy. blackberry 10, research in motion is unveiling its latest and greatest device in hopes of saving the battered company. boeing, the dow component releasing quarterly results around 7:30 a.m. eastern time. we will have instant reaction and more on the dreamliner battery drama. and last but not least, the bulls going on another run. the dow jumping another 72 points to close just 46 points away from 14,000, just 210 points away from its all-time closing high. we have a big lineup covering the rally, the fed, and the economy this morning. >>> ed keon of quantitative management associates and dan greenhouse of btig will be serving up the markets for us. fed watchers will join us at 7:40 a.m. moody's chief economist, mark zanby will have the adp report at 8:15. >>> former national bureau chief marty feld stein will wrap it up at 8:40 a.m. eastern time. a big lineup. andrew, over to you. >> thank you. >>> the big news, the national transportation safety board is asking boeing for a full his
the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13,910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. the drop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, with joel naroff, an economist, who heads his own consulting firm in pennsylvania. and roben
the report as stupidity. >> maryland governor martin o'malley focused on the economy and education in his state of the state this morning. he says maryland is ahead of the other states because of fiscal choices made during the recession. moving ahead, he will increase the rainy day fund protect the aaa bond rating and cut spending by eight $.3 million. >> the us economy shrank despite a increase in consumer spending because of big one-time factors like the shrink in defense spending. it is the first time the economy has contracted since the recession ended. coming up, a hostage situation underway in alabama. we have details on how authorities are trying to save a six-year-old child from armed gunmen. >> another miracle on the hudson and this is caught on tape. >> a new study that takes a different approach to losing weight. next jacqui jeras will be back for >> the gun-control control debate is heating up on capitol hill with the senate judiciary committee hearing on gun violence underway for the first hearing since the sandy hook shooting. one of the witnesses with congresswoman gabriell
in april. >> we do begin with a stunning gdp report. the economy contracted to 0.1% in the fourth quarter. first decline since 2009. this as we remain on dow 14,000 watch. the index is fewer than 46 points away from that mark. which hasn't been reached since october 2007. the dow component boeing rising pre-market. it earned $1.28 a share in the fourth quarter, beating wall street estimates. it expects no significant impact from any faa directives involving its 787 dreamliner, and is maintaining its production and delivery forecast. let's get to the gdp number. it is apparent that the economy came to somewhat of a screeching halt in the last two months of the year. >> i think cnbe played a big role. i'll calis a one off number. the reason i call it a one off number is there are way too many companies who reported during this period that did not see this level up -- well, let's just say no growth whatsoever. >> decline. that being said, it may be a one off, but it's still a bit surprising, if not scary. >> well, does it not say that the fed's been right in what it's been doing. >> it does.
, family reuniting and the talk of a positive impact that immigration has on the economy were all well receive people acting in community together said that no one is looking for a free ride. >> i think earned citizenship, people are willing to pay fines for coming here. i -- families have said that to me personally. >> i talked with the pastor of our lady of guadelupe church, who was in the audience and he said that he thinks that immigration reform is imminent. i talked to the father this afternoon, and he said that the president was right to talk about the immigration in terms of the impact on business and the economy. i will share more with you coming up on nbc bay area news. >> chris, we will see you then. still ahead, against all odds, a soldier that survived losing four limbs on the battlefield, now this vet is using his experience to inspire others. >> also, this is a story that belongs to everyone. and it is so cool to be able to share this with everyone. >> a trip down memory lane ends with history being rewritten, what a woman found out about her family that could change the
a big thumbs up. >> expectations for the economy have risen in four of the last five months. it looks like we've reached a turning point. it is safe to assume this trend will remain stable in the future. >> many german workers are expecting their pay to increase this year. that's one reason for the upbeat mood among consumers. that's why many are considering making this year won for the big-ticket purchases. >> well, that consumer confidence data combined with a report out of the united states showing a rebound in the real estate sector prompted investors in europe to buy on tuesday. our correspondent sent us this summary from the frankfurt stock exchange. >> the german consumer is more optimistic again. that is a measurement that was put out by an organization called gfk which measures the consumer mood in germany. before now, the mood had declined for some months. but now, the return to optimism can be good news for the economy. it can be good news for jobs and also for the markets. the people in germany apparently are considering that they are going to be earning more this year tha
. >> old man winter taking us for a ride. >>> the other big story, the economy. the powerful rally on wall street. if you've invested in stocks, these are good days. >> and for the reasons stocks are reaching near record levels, we're joined by tahman bradley here in new york. >> so nice to be with you here. seems like the economy is turning around. new data is sh are giving both investors and home owners reasons to smile. the economy posts numbers we haven't seen in years. it looks and feels like a comeback. stocks and the nation's housing market are soaring. the dow nearly hit the 14,000 mark yesterday, reaching the highest level in fife years. after an increase in 850 points in january, the dow is only 200 points away in the all-time high. the result, american investments are surging. the average 401(k) retirement account increased 20% in the last year. from $64,000 to $80,000. >> the worst case scenarios, people can start to think, all right, we're not going the go there. >> reporter: on the housing front, home prices rose 5.5% in november. the biggest year to year increase since the h
be paid. when that goes into the family checkbook, it will go right in to the economy which we need right now. to buy shoes, to buy food, to do all the things that occur in the real economy. so we think it's great social policy, but we think it's an economic mandate. >> and senator boxer, that is a fact because with $10,000 less a year, then they earned with men, women could buy, if they had that money, 92 weeks of groceries or 13 months of rent or 39 months of family health insurance premium. i mean, we're talking food, housing, health care. this isn't just a little extra money. this is vital, especially for single moms. >> it is so critical. and it is, you know, what happens is we have a consumer-driven economy. about 70% of our economy depends on the consumer going out and spending. so when senator mikulski describes this, she's exactly right. an when you take it to a further level, it's critical. it's critical for the family. it's critical for retirement. it's critical for the economy. so all of this means we're going to have a real strong push. and i think this year, maybe we'll get
government spending. maybe the economy slows down a little bit peter. peter: that's right. a big chunk of that was defense spending and the questions about the fiscal cliff and all these other things that combine to inventory. listen, but the inventory number in the gdp report, there was a shrinkage there that was unexpected. that means that eventually everybody has to increase their inventories; right? so that's good going forward. that means economic activity going forward. liz: silver lining here. listen, i don't have to search hard for it. i don't think it was that bad. it stuns people to see the minus sign and the.1. when you do see the government spending down, defense down 22%. consumer looked better, the best since we have seen i guess since q1 of 2012. thanks peter very much. let's get to the floor show and get the real reaction from the traders themselves. new york stock exchange, cme group and the nymex. let's go to john brady at the cme. what reaction did you immediately see? give us the inside scoop, that prism through which you are looking where you said wait a minute thi
somethings looking for a better life, better economy. promises made during the revolution. it never came through. the violence has decreased. nothing what we saw over the weekend. but you have people here defying the president's declaration of a curfew and emergency rule where we are in port said. the curfew is technically supposed to go in place in a few hours. but people have told the president, we know there is a curfew. we are protesting anyway. clearly defying him. >> who is in control on the streets? when you look at the pictures you say there is good news that the violence isn't what it was. is there a sense they will continue between the government and protesters that's playing out? lost the signal. we're going to try to get back to him as soon as we can. the turmoil in egypt. real concern for hillary clinton. she talked to cnn about those challenges and what she thinks egypt's struggling new government needs to do. >> it's difficult going from a closed regime and essentially one man rule to a democracy that's trying to be born and learn to walk. there are clear lessons. you have
. a serious slowdown in the economy, that is bad. that is how we start today, the good and the bad. good morning, everyone. the news we are just not growing. our economy is contracting. the economy is shrinking. what a way to start the second term and the president will take the heat with four years into a so-called recovery and failing to uncover real prosperity. now the good, good news on stocks. most people have a piece of a stock market. her money has been on a tear. with housing up as well, maybe middle america will get a wealth effect. "varney & co." about to begin. money. which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritde. stuart: good morning, "varney & co." viewers. big trouble for boeing. in a report from japan says the batteries were a concern months before the first reported fire. in fact they h
years, our economy shrank in the last three months of last year. that was unexpected, the markets were a lit aloof for awhile, but look where they're standing now. as you can see. we'll continue to cover breaking news on studio b. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >> shep: the country, the economy shrank for the first time since last year, and it has taken economists by surprised. it slowed down 3.2% from the last quarter. and they are blaming a drop in exports, and factories shutting down after supe super storm san, and weighing down on the economy, the slowdown raising concerns about the ongoing recovery. jerry is with us, and you were saying a few minutes ago
and we thank you to help grow our economy through the joint investment opportunity, we will be entering into with the approval of the proposals that are before you here today. * so, we thank you and we thank supervisor kim also for her partnership with us on this. >> thank you very much. next speaker, please. >>> good afternoon, supervisors. my name is james lim, i'medth regional managing director for [speaker not understood] hotels. [speaker not understood] operates 11 hotels in the city and it's spread throughout the neighborhoods as well in downtown san francisco. we support over 800 jobs, local jobs in the city as well. some of our hotels include the [speaker not understood] in japantown, the hotel rex, carlton, laurel lynn at laurel heights, [speaker not understood]. what's wonderful about this initiative is that we know that many of our downtown hotels benefit whenever there is a convention in the city. and what happens is that it creates compression and the business that would otherwise go to this hotels in the city also are spread throughout the neighborhoods such as the laurel
. 80% of the u.s. economy is a service economy, right? we do not manufacture anything. we do not grow anything. we are a service economy. you probably heard this. probably every one of you in this room is in the service economy. you probably are not growing or manufacturing anything. the question i would put in front of you is what the hell is a service business? what is a service economy? right? is it answering the phone nicely? is that a service business? is it flipping burgers burgersin-n0out? i get to say that around here, right? i would contend you that a service business is a business which delivers information that is personal and relevant to you. information that is personal and relevant to you. whether that means i go down to mark hopkins or wherever and talk to the concierge, and i really would like to find a cheap chinese restaurant that i can wa
plans to maintain the philips brand and expand sales to emerging economies in asia and south america. >>> one of japan's major oil wholesalers will join forces with a canadian gas firm. idemitsu-kosan announced it will build a liquefied natural gas plant in canada with altagas. executives at idemitsu said tuesday the two firms agreed to form a joint venture. the new plant will be built on the west coast of canada. they plan to start shipping 2 million tons of lng annually to japan and other countries as early as in 2017. the executives say the lng will have a price advantage as it will be produced at canadian market prices. shipping costs will be lower because of geographical closeness compared with sourcing from the middle east and the u.s. east coast. demand for lng has bn rising in japan since the nuclear accident in fukushima. that's because it's the main fuel used for thermal power generation. >>> let's get a check on market prices now. tokyo stock prices are trading higher. an overnight rise in new york is raising expectations for a u.s. economic recovery. the nikkei average at
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